Mr Cooper Group Inc (COOP)

[UncleBo]

JWW,

I hear what you are saying, but for the time being the market does not seem to be buying what COOP BOD and executives are selling. Basically, with a market cap of about ~1.3 Billion, the markets seem to have "taken out" the incremental debt of 630 million from the previous equity valuation of NSM (roughly 1.9 Billion). Of course, the NOLs value is zeroed out because having too much debt and NOLs doesn't make sense as Tagar Olson pointed out during one conference call long time ago before the NSM acquisition. Meaning COOP deducts interest BEFORE taxes. So the NOL benefits and utilization gets diminished greatly.

All invested here are waiting to see something else here - rapid growth, more acquisitions, "free" legacy MSRs and on boarding of servicing assets etc. Who knows may be the markets will have a change of heart ?!

Uncle Bo